First Mobile Home Flip, What to Avoid, Need Tips from Pros

[Tuee Chanthavong]

Just picked up a Mobile Home in Denver suburb. 2/2 "full-gut" rehab. What should I avoid doing to this mobile home that I typically would do on a common SFH flip?

A few thoughts:

• It has wall paneling, can/should I replace with drywall?
• Rehab comps have sold with laminate floors, quartz countertops, white cabinets, and stainless steel appliances. I thought it was a bit much, but should I follow suit? I guess if it sells, that's what the market desires.

Thanks.

[Frank Rolfe]

You can't change out the paneling to drywall as the weight cannot be altered in a HUD-code home. If you want to lighten the look, just paint it a neutral color.

As for the rest of the finish-out, if this mobile home is targeted at affordable housing, then you want to give the illusion of luxury without using expensive materials. Go to your nearest mobile home street retailer and look at the design elements of the more expensive models. You would never get your money out of the items you mentioned. Most affordable housing buyers want the basics, a pleasant color palate, and a price they can afford. But if this home is geared toward a more upscale customer, then you may be required to do some more expensive finish-out. It's all about the customer and what their needs are.

We've screwed up in the past in both directions (too expensive for the customer and too downscale for the customer). We've learned that -- before we do anything -- we narrow the range of what the customer's economics are. You need to become the expert on what the other homes around are selling for, as well as what types of cars the neighbors drive. You can also run a test ad in the metro newspaper at different price points and see what makes the phone ring.